RH (NYSE:RH) Price Target Cut to $325.00 by Analysts at Wells Fargo & Company

RH (NYSE:RH) had its target price lowered by Wells Fargo & Company from $350.00 to $325.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on RH. TD Cowen cut their price target on shares of RH from $350.00 to $325.00 and set a buy rating for the company in a report on Friday, June 14th. StockNews.com raised shares of RH to a sell rating in a report on Friday, June 21st. Loop Capital dropped their target price on shares of RH from $350.00 to $230.00 and set a hold rating for the company in a report on Monday, June 17th. Bank of America dropped their target price on shares of RH from $325.00 to $310.00 and set a buy rating for the company in a report on Thursday, September 5th. Finally, Robert W. Baird dropped their target price on shares of RH from $300.00 to $275.00 and set a neutral rating for the company in a report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $294.25.

RH Stock Down 2.6 %

NYSE RH opened at $241.64 on Friday. The stock has a market capitalization of $4.46 billion, a P/E ratio of 66.94, a P/E/G ratio of 1.07 and a beta of 2.42. RH has a 52-week low of $207.26 and a 52-week high of $354.86. The firm has a 50-day moving average price of $261.57 and a 200 day moving average price of $266.14.

RH (NYSE:RH) last posted its quarterly earnings results on Thursday, June 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.32). The firm had revenue of $726.96 million for the quarter, compared to analysts’ expectations of $725.15 million. RH had a negative return on equity of 29.15% and a net margin of 2.72%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.21 earnings per share. On average, equities research analysts expect that RH will post 7.4 earnings per share for the current fiscal year.

Insider Transactions at RH

In other RH news, CEO Gary G. Friedman acquired 34,200 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was acquired at an average cost of $215.00 per share, with a total value of $7,353,000.00. Following the purchase, the chief executive officer now directly owns 3,339,263 shares in the company, valued at approximately $717,941,545. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 28.10% of the company’s stock.

Institutional Trading of RH

A number of hedge funds have recently bought and sold shares of RH. Anomaly Capital Management LP boosted its position in RH by 503.6% during the second quarter. Anomaly Capital Management LP now owns 349,227 shares of the company’s stock worth $85,365,000 after acquiring an additional 291,368 shares during the last quarter. Norges Bank acquired a new position in shares of RH in the 4th quarter valued at $38,736,000. Granahan Investment Management LLC acquired a new position in shares of RH in the 4th quarter valued at $24,915,000. Marshall Wace LLP boosted its holdings in shares of RH by 58.6% in the 2nd quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock valued at $42,612,000 after purchasing an additional 64,423 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of RH by 10.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock valued at $231,728,000 after purchasing an additional 62,198 shares during the last quarter. Institutional investors and hedge funds own 90.17% of the company’s stock.

RH Company Profile

RH, together with its subsidiaries, operates as a retailer in the home furnishings market. The company offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, baby, child, and teen furnishings. It provides its products through rh.com, rhbabyandchild.com, rhteen.com, rhmodern.com, and waterworks.com online channels, as well as operates RH Galleries, RH outlet stores, RH Guesthouse, and Waterworks showrooms in the United States, Canada, the United Kingdom, and Germany.